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ALTISOURCE ANNOUNCES WIND DOWN AND CLOSURE OF OWNERS.COM TO INCREASE FOCUS ON CORE BUSINESSES

Luxembourg, October 8, 2019 - Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it decided to wind down and close Owners.com’s operations. The Company believes that closing Owners.com supports its simplification strategy, eliminates the cash burn associated with this earlier stage business, and increases focus on the core real estate and mortgage businesses.

"Owners.com has been making encouraging progress in demonstrating that a better consumer real estate model based on technology and service may be viable," said William B. Shepro, Altisource’s Chairman and Chief Executive Officer. Shepro further commented, "However, as we continue to work to simplify Altisource and focus on our larger opportunities, we concluded that closing Owners.com is in Altisource’s best interests given the time horizon and level of additional investments needed in order for Owners.com to operate independently. I am proud of the very talented and dedicated Owners.com team and want to thank them for their contributions."
ACTIVE
199 days on Owners.com
584 Marienstein Rd
UPPER BLACK EDDY, PA 18972
4 Beds
4 Baths
4,243 ft2
$1,799,000
Owners.com Estimate:
Estimated Payment:$6,755/mo

Lakewoods is a secluded Upper Bucks Co estate set against a backdrop of 66 wooded acres and spring-fed lake

The country compound provides possibilities for extended family use, caretaker, rental, or home business. In addition to the main house, there is a converted barn with apartment and finished studio space, carriage house with 2-car garage and finished living space, 2-car meeting house style garage, and ancillary buildings. The approach to the c.1997 manor house evokes European sensibilities with circular gravel drive, stone walls and steps down to front terrace and entry. The house was designed and built to exacting standards and the interior is classic and timeless. The entrance hall welcomes you with splendid hand-milled bannister and turned stairs, and rich Georgia long-leaf yellow pine tongue-and-groove floors and rich detail moldings run throughout. Formal living room opens to the large side covered-porch and open lawn, a perfect flow for entertaining outdoors. The south-facing sun room is gracefully divided into library and dining room sharing a wall of windows framing verdant views of the lake and woods, and French doors open to the with pergola and covered side porch. But the heart of the home is the substantial country kitchen with custom cabinets and French limestone counters, large butler pantry, prep sink, Thermador propane range, Gaggenau oven, Sub-Zero refrigerator and wood stove in the original walk-in fireplace. Four bedrooms include a main floor suite with 2nd floor bonus rooms, part of the original c.1850 homestead, and separate entrance. Upstairs is the main bedroom suite with dressing room with built-ins plus walk-in closet and large en suite. The 3rd bedroom, hall bath and laundry room complete the second floor. On the 3rd floor is the family room loft and 4th bedroom, plus finished storage rooms. The converted barn is Boral board-sided and offers stone-walled lower level, perfect as potting/flower room, finished heated and cooled 1,200sf workshop with ~ bath, and 2BR/1Bath apartment with separate entrance and kitchen, dining area, great room with loft and separate electrical and HVAC. The carriage house with 2-car garage has studio or bedroom space, great room, dining room and kitchen, and 1.1 bathrooms. Benefit from alternative heating for the house and barn with the wood furnace located in a separate building, which also has 2-car garage. 6-bedroom septic system to be installed, Automatic generator for peace of mind.

Property type
Residential
Structure
Three or More Stories, Story - Main, Story - Upper 1, Story - Upper 2
Year built
1997
Parking
Private, Driveway - Circular, Driveway - Gravel
Price/Sqft
$424
MLS #
PABU465872
Lot Size
2874960 sqft
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My NotesiThis is a place for you to write your thoughts and notes about this home. Only you will be able to see the notes.

My Home Features

Rooms

Bedrooms: 4
Virtual Tour: virtual tour | Room Types: Living Room, Dining Room, Bedroom(s) - Master, Bedroom 2, Bedroom 3, Kitchen, Den, Foyer, Bedroom 1, Study / Office, Laundry, Loft, #OTHER, Additional Bedroom | Basement: true, Partial, Unfinished, Outside Entrance, Crawl Space

Bathrooms

# of Full Bathrooms: 3
# of Half Bathrooms: 1

Interior

Features: Butlers Pantry, Exposed Beams, Wet/Dry Bar, Air Filter, Built-in(s), Lighting - Recessed, Staircase(s), Dining Area, Window Treatments, Walls - Dry

Exterior

Features: #OTHER, Fence - Privacy, Exterior Lighting, Outbuilding(s), Stone Retaining Walls, Extensive Hardscape, Deck, Patio, Porch, Above Grade, Below Grade

Building

Property Types: Residential | Year Built: 1997 | Structure: Three or More Stories, Story - Main, Story - Upper 1, Story - Upper 2 | Architecture: Colonial, Farmhouse/National Folk, Converted Barn, Carriage House, Detached | Construction: Stucco, Stone | Roof: Pitched, Shingle - Composition | Foundation: Stone, Concrete Perimeter, Active Radon Mitigation, Block, Crawl Space | Floors: Hardwood, Carpet, Wood | Windows: Energy Efficient, Double-Pane, Screens

Garage & Parking

Parking: Private, Driveway - Circular, Driveway - Gravel | Garage: true

Lot

Lot Dimensions: 798X3602 | Lot size: 66.00 acres | Lot size: 2874960 sqft | Lot Features: Irregular, Level, Sloping, Open Land, Wooded, Front Yard, Rear Yard, SideYard(s), Subdivision Possible, Pond, Rural, Secluded | Zoning: R

Location

County: BUCKS-PA | Subdivision: 000 | Real Estate Area: Nockamixon Twp (10130) | Directions: River Rd to Bridgeton Hill Rd (becomes Marienstein Rd) to property driveway on left, after Lake Warren Rd | MLS #: PABU465872

Appliances

Appliances: Oven - Dual, Oven - Self-cleaning, Commercial Range, Dishwasher, Refrigerator, Range - Built-in, Dryer, Exhaust Fan, Extra Refrigerator/Freezer, Gas Oven / Range, Range Hood, Washer - Front Loading

Heating & Cooling

Air Conditioning: Electric, Central Air | Heating: Forced Air | Fireplace: true, 1, Stone, Flue for Stove, Wood, Insert, Wood Stove

Utilities & Security

Utilities: Cable TV, DSL Available, Electricity, Phone Connected, Hot Water - Propane, Hot Water - S/W Changeover, Electric Service - 200+ Amp Service, Electric Service - Circuit Breakers | Sewer Service: On Site Septic, Septic Permit Issued | Water Source: Well

Accessibility

Accessibility: #NONE

School

School District: PALISADES | Elementary School: DURHAM NOCKAMIXON | Middle School: PALISADES | High School: PALISADES

Owners.com Estimated Value

We calculate the Owners.com Estimate by analyzing sales for nearby similar properties. We use the best data sources, including MLS and county records to generate insights into the property value. You can even create your own estimate by selecting comparable sold listings.

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School Information

Property History & Valuation

Local Insights

Listing provided by: Michael J Strickland 

Listing courtesy of: Kurfiss Sotheby's International Realty 

Bright MLS

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Data provided by: Bright MLS
Last detected update: August 19, 2019 07:12AM EST ~ Verified on November 04, 2019 08:32PM EST

Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
All information provided is deemed reliable but is not guaranteed and should be independently verified.

Note: Estimated payment calculations assume 20% down payment with loan terms of 3.86% fixed APR for 30 years.

Property is available to all persons, regardless of race, color, religion, sex, handicap, familial status, or national origin.
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